New York-based Revv, a software-as-a-service startup, has emerged from stealth mode with $2.1 million seed funding. The investment round was led by 1984 Ventures with additional funding from Soma Capital, Adapt Ventures, CapitalX known for investing in WeLoveNoCode and Simplifyber, Unpopular Ventures, Pareto Holdings, Misfits Market CEO Abhi Ramesh and LiveControl co-founder Noah Johnson.
In addition to the investment, Revv launched its automotive repair diagnostics platform that uses a large language model (LLM).
Enhances revenue for repair shops
Advanced driver assistance systems (ADAS) electronic systems with safety features, including automatic braking, drowsiness detection and blind spot detection, have become more technical as cars have evolved. Currently, 92.7% of new vehicles in the US have at least one ADAS. During a collision, any physical damage sustained can impact these sensitive systems.
However, Revv claims that 60% of repair estimates by auto repair shops don’t include ADAS repairs. This makes it a potential safety hazard for customers and a missed revenue-generating opportunity for shops.
Repair shops have to manually gather ADAS operations and procedures from fragmented sources, such as car makers, OEM procedures, and aftermarket aggregators to diagnose problems across these features without automation.
Revv was founded by Adi Bathla and Rashmi Sinha, who bring years of experience at tech companies, including Walmart, Microsoft and Pinterest, among others. Its AI-enabled software platform is built to accelerate diagnostics of necessary repairs to a car’s ADAS.
What does it include?
RevvADAS provides automotive repair shops with a large language model that transforms extensive vehicle-specific documentation into an easily searchable database, unlocking new revenue streams for shops and ensuring safety for drivers.
RevvADAS integrates with shops’ existing systems to easily identify necessary ADAS calibrations from repair estimates. Pricing varies based on usage and RevvADAS offers flexible pricing to cater to shops of all sizes. After making repairs, Revv’s reports include the necessary documentation for compliance with insurance companies.
Furthermore, users can choose between individual or master accounts that enable multi-shop owners to oversee ADAS repairs across local shops.
“ADAS is an invisible problem. When there’s no light on, mechanics and customers assume there’s no problem,” said Adi Bathla, CEO and co-founder of Revv. “There are over 500,000 unique ADAS procedure combinations based just on variables like make, model, trim package and model year. Multiply that by the thousands of distinct original equipment manufacturer mandated repair procedures for each make and model. Without Revv, it’s too time-intensive for mechanics to sift through that amount of information.”
“ADAS calibration is an ideal market. It’s overlooked, yet fast growing, and will consume the entire auto market in the coming years. Soon, every car on the road will have sensors in need of calibration,” said Samit Kalra, partner at 1984 Ventures. “Revv has experienced strong early traction because it both saves technicians time and generates significant revenue for shops.”
“RevvADAS has increased our efficiency in verifying required ADAS services and has helped us drive additional revenue at our shops,” said Matt Braam, Director of Aftermarket Automotive at Ascential Technologies.